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CLICO and BAICO payments soon

CLICO and BAICO payments soon

Thousands of policyholders of CLICO International Life Insurance Limited and British American Insurance Company (BAICO) seem set to receive their long-awaited pay out this year. High Court Judge William Chandler last month approved the transfer agreement between CLICO and the two companies which would take over its business, New Life Investment Company Inc (NLICO) and […]

Court rules on contract of former CLICO executive

Court rules on contract of former CLICO executive

After more than a decade and a half of delays, the High Court today ruled in the suit brought by former CLICO insurance executive Neval Greenidge against the company. The original application was filed in 2000 against CLICO Holdings Barbados Limited and CLICO International Life Insurance. However, in her decision handed down in the Number […]

Forgive me!

Thirty-year-old Toneal Omar Walrond of French Village made the appeal to the family of the victim, Evans Burnham. The late resident of Black Best, St Peter died at the Queen Elizabeth Hospital on July 8, 2011 following an altercation in which he sustained a fractured skull and other injuries after being hit in the face several […]

Don’t blame me!

Don’t blame me!

Minister of Finance Chris Sinckler says he is very concerned about the rate at which the CLICO restructuring process is taking place, and he has therefore promised to give the matter his full attention to ensure a resolution by yearend “now that the Budget is out of the way”. Sinckler said he was disappointed that […]

CLICO setback

CLICO setback

The wait for a settlement by policyholders and investors in the collapsed insurance company CLICO International Life is about to be extended even further as the process has hit a new hurdle. The authorities will not meet the September 30 deadline set by the High Court for payment of the hundreds of millions of dollars […]

Wrong company

Wrong company

Lawyers for embattled former CLICO Executive Chairman Leroy Parris were today claiming a “moral victory” after the Court of Appeal agreed with their submission that court action against their client was improperly filed by CLICO International Life (CIL). Acknowledging a precedent set by Australia, the three-member panel, led by Madam Justice Sandra Mason and including […]

Push back

Push back

There was stiff opposition in the High Court today to Government’s rescue plan for the beleaguered CLICO International Life Insurance Company, as attorneys representing local and and Eastern Caribbean policyholders shredded the proposal as discriminatory, unlawful and unfair. Eastern Caribbean countries regulated by the Eastern Caribbean Currency Union (ECCU) and a number of corporate policyholders, […]

CLICO SPLIT

CLICO SPLIT

A row has developed among stakeholders of CLICO International Life Insurance Company (CIL) over a proposal  – now before the High Court – by the Freundel Stuart administration to restructure the financially beleaguered firm. A small group of CLICO policyholders and the members of the  Eastern Caribbean Currency Union (ECCU), made up of the countries […]

CLICO case adjourned

CLICO case adjourned

Hearings have finally started into the application for liquidation of the beleaguered CLICO International Life (CIL). However, the case, which came up in the High Court yesterday, has been adjourned until a later date. The Barbados Government, the Barbados Investors and Policyholders Alliance (BIPA) and the East Caribbean Currency Authority are all objecting to the […]

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